that's not about how you must do things, that's about how I do things.

Friday, 28 November 2014

10 Mistakable Points of View When Opening

Probably the person who never thought about opening his own business doesn't exist. At least the time for thinking about this hasn't come for this guy yet :) Everyone makes mistakes so the entrepreneurs beginners. However at least those 10 can be avoided or minimized at the early stage.

Mistake 1. To open a business you need a lot of money

This one is probably the most common thing. If you have a great idea and you are willing to act that won't stop. Why? Because your initial investment is your time and efforts and getting money for implementation is secondary just because you can get in on the go and lots of things are FREE. And you can use a lot of free ways to get your initial funds even without asking investors or funds etc. Also so many grants exist to fund great idea. Research locally! Still questioning yourself how?? ASK ME then I will guide you.

Mistake 2. To open a business you need network of specific people

Similar to previous one. In you haven't started your own business where will the network appear? I'm not talking about family business in this case. As far as you move ahead with your idea and business you will start getting in touch with people and companies you need for your business and it will grow and it all depends on you. Proven fact.

Mistake 3. No clear vision of what you want to do

No idea means no business. You need to understand clearly what you want to sell, produce or supply. It doesn't matter whether your idea is yours and unique or you borrowed/copied it from somebody else. You need to have the idea and understanding what is behind it i.e. steps to take, processes, results to achieve.

Mistake 4. No business plan

Consider business plan as steps to implement your idea. Your idea is an objective in this case and business plan is an action plan. Consider the resources you need to put all on paper. "I have all in my head" - NOT WORKING. Trust me as soon as you start writing you will find out more things to do, actions to take and even new ideas will come.

Mistake 5. Opinion you need specific skills and knowledge to start your business

Sure about that? Have a look in the web and search for article about Steve Jobs or Bill gates. Did you know they haven't finished universities and? Life is the best teacher and believe me that majority of the knowledge you get from universities won't be helpful because life, technology and everything changes so quickly that it can't be implemented in the curriculum same quick and the knowledge you get will prevent you from thinking as you will constantly try to use the templates and frames you have learnt instead of thinking on your own.

Mistake 6. Too much of self confidence

Good and bad. Be careful about this one. Stop thinking you are a super lucky guy and act planning ahead and thinking ahead. Surely mistakes will be made however take them as an experience and try to avoid in the future.

Mistake 7. Listening to other people's advice. Listening too much!

Yes, don't listen. You do something they have never done to be different as they are. You are on your own at the beginning and be ready people won't support in majority of the cases. They don't really care however their nature is something that makes them give you advice and share point of view. Be ready to be against everyone and yes.. when you succeed they will always say that's them who helped. :) Find people who think like you or those who did similar stuff and learn from them. Much more useful as appeared to be in practice.

Mistake 8. Business for two..

When you do that and you trust still make sure to talk over details in advance. Never think best friends remain best friends. You never know. I think friendship or family relationship is a lot more important than business so make sure you avoid all potential problems that may potentially appear by having initial agreement about everything that possible comes to your mind before the big start.

Mistake 9. Leaving things till Monday or best moment

OK. easy here: you will never start if you don't act. Keep on postponing as someone is already implementing your great idea while you are waiting for your best moment and perfect conditions :)

Mistake 10. Not enough time

Oh yes! have you heard about time management and effective usage of your time? Well life is too short to waste unless that is your goal. So in case you want you can find time for things you want to do. Just a quick exercise for you: for 1 week write down everything you do hourly and you will easily find the things you do for which you don't get money. then make a simple calculation by multiplying the number of wasted hours by your average hourly rate and you will see how much money have you wasted. Still no time to start?